Although the SRB is an independent EU agency, it is not publicly funded. Instead, banks operating across the Banking Union must pay an annual levy towards the running costs of the SRB.
The determination and raising of Administrative Contributions is based on the Commission Delegated Regulation (EU) 2017/2361 of 14 September 2017 on the final system of contributions to the administrative expenditures of the Single Resolution Board, which came into force on 8 January 2018 and was amended by Commission Delegated Regulation (EU) 2021/517 of 11 February 2021. Some changes have been introduced from the 2022 administrative contributions cycle onwards. The SRB will calculate and raise individual annual contributions in Q3. Additionally, the SRB can raise advance instalments in order to pre-finance its expenditures of the financial year until the annual individual contributions are raised in Q3.
All credit institutions established in the Banking Union must contribute to the administrative expenditures of the SRB. The same holds true for all parent undertakings (including financial holding and mixed financial holding companies), investment firms and financial institutions that are covered by the consolidated supervision of the ECB.
For more detailed information on the administrative contributions process, you can consult the following legal act:
The Single Resolution Board announces the start of the 2023 administrative contributions cycle.
Following the entry into force of Commission Delegated Regulation (EU) 2021/517, as of the 2022 cycle, the SRB shall calculate and raise individual annual contributions in Q3. In order to pre-finance its expenditures for the part of the financial year preceding the point at which the annual individual contributions are raised, the Board is also required to raise advance instalments on the individual annual contributions in Q1. The advance instalments are raised only from the institutions under the SRB’s direct remit, which are subsequently deducted from those institutions’ individual annual contributions in Q3.
The SRB has developed the ADMC Portal to improve the communication with institutions regarding the contributions to the administrative expenditures of the Board.
As of the 2022 annual cycle, institutions are required to use the ADMC Portal to:
Verify/update their contact details;
Provide any comments they may have during the consultation;
Retrieve all documents related to the administrative contributions.
Additionally, since 2023, the ADMC Portal has been further improved to enable institutions to:
Add/delete their users independently in the portal, and
Report any specific changes to their situation (e.g. change of name, merger/acquisition) in a standardized way in the platform.
In May 2023, all institutions in scope of the 2023 annual administrative contributions received an information letter via email with detailed instructions on how to access the ADMC Portal.
Consultation procedure on the 2023 annual contributions
A consultation in relation to the determination of the 2023 individual annual contributions to the administrative expenditures of the SRB, prior to the adoption of such decision, has been launched by the SRB between 19 June 2022 and 2 July 2022 on the ADMC Portal. Entities and groups in scope of Article 2 Regulation (EU) 806/2014 were able to provide their views on the determination of the 2023 individual annual contributions. The SRB considers that the consultation has allowed it to better structure its dialogue with the institutions in scope and facilitate the decision-making process. In particular, the institutions were given the opportunity to provide comments on any aspects of the determination of the 2023 individual annual contributions that they consider pertinent. For the final decision on the 2023 administrative contributions, the SRB will carefully assess any comments received during the consultation period.
2023 advance instalments on administrative contributions
The individual Contribution Notices were issued on 15 February 2023. The deadline for payment was 22 March 2023.
112 entities and groups have been notified about their 2023 advance instalments.
The total amount of 2023 advance instalments raised was equal to EUR 60 million.